Correlation Between SBF 120 and Agripower France
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By analyzing existing cross correlation between SBF 120 and Agripower France Sa, you can compare the effects of market volatilities on SBF 120 and Agripower France and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in SBF 120 with a short position of Agripower France. Check out your portfolio center. Please also check ongoing floating volatility patterns of SBF 120 and Agripower France.
Diversification Opportunities for SBF 120 and Agripower France
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SBF and Agripower is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding SBF 120 and Agripower France Sa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agripower France and SBF 120 is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on SBF 120 are associated (or correlated) with Agripower France. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agripower France has no effect on the direction of SBF 120 i.e., SBF 120 and Agripower France go up and down completely randomly.
Pair Corralation between SBF 120 and Agripower France
Assuming the 90 days trading horizon SBF 120 is expected to generate 0.35 times more return on investment than Agripower France. However, SBF 120 is 2.89 times less risky than Agripower France. It trades about -0.19 of its potential returns per unit of risk. Agripower France Sa is currently generating about -0.19 per unit of risk. If you would invest 568,330 in SBF 120 on August 24, 2024 and sell it today you would lose (21,372) from holding SBF 120 or give up 3.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SBF 120 vs. Agripower France Sa
Performance |
| Timeline |
SBF 120 and Agripower France Volatility Contrast
Predicted Return Density |
| Returns |
SBF 120
Pair trading matchups for SBF 120
Agripower France Sa
Pair trading matchups for Agripower France
Pair Trading with SBF 120 and Agripower France
The main advantage of trading using opposite SBF 120 and Agripower France positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SBF 120 position performs unexpectedly, Agripower France can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Agripower France will offset losses from the drop in Agripower France's long position.| SBF 120 vs. Mauna Kea Technologies | SBF 120 vs. Axway Software | SBF 120 vs. Soditech SA | SBF 120 vs. Guandao Puer Investment |
| Agripower France vs. Glob Bioenergi | Agripower France vs. BIO UV Group | Agripower France vs. Voltalia SA | Agripower France vs. Hoffmann Green Cement |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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